FHB losses halved in Q2
FHB Mortgage Bank had a second-quarter loss of HUF 1.5 bln, a little less than half of the HUF 3.2 bln loss in the same period a year earlier, an earnings report published late Monday shows.
FHBʼs bottom line was helped by HUF 5.3 bln of "other operating income", up from a little less than HUF 100 mln in the base period.
FHB noted that its P+L statement was adjusted to show the pro rata impact of the bank levy on its earnings.
Net interest income fell 34% to HUF 3.3 bln as interest rates fell. Net revenue from commissions and fees rose 62% to HUF 1.7 bln. Risk provisions increased 92% to HUF 2.1 bln.
FHB had total assets of HUF 753.6 bln on June 30, up 12% from twelve months earlier. Net assets rose 12% to HUF 82.5 bln.
Client loans fell 11% to HUF 326.2 bln. Client deposits climbed 30% to HUF 337.4 bln.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.